|
|
Article: Fitch Affirms Plum Creek's IDR at 'BBB-'.
- Article from:
- Business Wire
- Article date:
- August 10, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
CHICAGO -- Fitch Ratings has affirmed Plum Creek Timber Company's (Plum Creek) senior unsecured and issuer default ratings (IDR) of 'BBB-'. The Outlook remains Stable.
Plum Creek's business is primarily timberland ownership, the harvesting and sale of logs, and the maximization of value of its 8.2 million acres of land. Operating margins from harvesting traditionally vary between the mid-20% to mid-30% range and are fairly stable. The overall element of business risk is low, but so also is the upside potential. Timberland operations account for around 70% of Plum Creek's earnings profile, the balance coming from land sales and downstream wood products ...